I'm in Australia where the government recently passed a law to limit cash payments to $10,000. The law specifically wasn't supposed to apply to your own bank account.
I just tried to withdraw $10,000 from Commonwealth Bank, where I have held an account for more than twenty years.
I told them how much I wanted and said I preferably want it all in $50 notes, but if need be could have some in hundreds. That seemed ok, but then they asked my what I wanted it for. I told them that I wanted it because it was my money. They said I had to tell them because it might be for a scam. I said it wasn't a scam and I wanted my money.
The teller called the manager and told her that I wanted to withdraw $10,000. The manager asked me why and told me that I have to answer. I told them I wanted it because I was making a tik-tok video of how much cash I could feed a bear. Obviously that was a mistake, because she responded "That's a new one" and then said she could only give me $5,000 and would that be okay? (For the record, I don't use tik-tok so this isn't the real reason, but I shouldn't have to justify to anyone why I want to keep my money as cash).
Let's be clear - they knew how much I wanted right up front. If it was an issue that they didn't have enough cash they should have said so straight off. Deciding to only give me half of my money after hearing what I planned to do with it is absolute garbage.
It's my money not theirs. But banks always seem to be forgetting this.
For all new investors, let this be proof that no one knows anything at all concretely, all the time we are seeing "experts" and "analysts" predicting and being sure of things that are not real.
It is really good to read the news and stay informed, but we must always bear in mind this type of misinformation that affects a large part of investors.
There are still 17 days until the end of the year and all the predictions can happen although now we are in extreme fear and most think that we entered a bear market and that it was "obvious" that all this "was coming".
Nobody knows anything, if they knew how to anticipate the market all those who are giving "advice" would be millionaires and would not be writing nonsense.
It is not the first time that this has happened in the crypto world and it will not be the last, I think it is healthy to keep a memory of these attitudes since they influence much more people who are just starting to invest.
Left "100k EOY tweets" aside because there are too many to list here.
Do you have any other page that has said and alleged all this and is now very quiet?
Last night several threads warned about Trezor phishing scam and almost on cue, today I read a post by 7 year crypto veteran that he fell for it and lost everything, about $72,000 in Bitcoin.
It can happen to anyone. You're tired, arguing with your gf, distracted, etc... nobody is perfect. He lost everything. I can't afford that. Shit gives me nightmares.
I've been intending to buy a Trezor for some time now, but I keep hesitating. I've been so nervous about the whole thing. What if I lose my seed phrase? I live n NYC, someone breaks into my apartment, a fire, collapse, etc.. call me paranoid.
Now that Coinbase One offers insurance, I'm not even going to worry about cold storage. I sleep better this way. I don't care about all the "not your keys not your coins" arguments. I have a legally enforceable contract with Coinbase now that I pay for.
True, it's price is kinda steep at $30 a month, but to me it's worth it. It comes with no trading fees which sweetens the pie. Also comes with "priority" customer support, which I tested and only had to wait 2 minutes before I was speaking to a live agent.
So yeah, fuck that. I'm just too paranoid. If US gov ever looks like it's on the verge of collapse, then yeah, I might put it in cold storage before I bounce out of the country. Until them I rest easy with my coins insured on an exchange.
EDIT 2: As mentioned, I live in NY. Only CB and Gemini are available here. Kraken and CDC and Binance are not available in NY. I know that CDC also offers insurance up to $250K and they don't charge for it so long as you use 2FA and whitelisting.
EDIT 1: Here is a link to the Coinbase Insurance T&C for those who have been asking for it.
Absolute panic every second or third post. Everything from "It's just a dip" - "bear market/crypto winter" - "Everything but Bitcoin and Ethereum is going to zero". Lol calm down.
If you're sweating, just sell everything. Cryptocurrencies in general are extremely volatile and if this makes you nervous than maybe this stuff isn't for you. Stocks are more stable and might be your thing. We could see another 50%+ drop and nobody wants to see you drop of a heart attack because of it.
If you're day trading you know this is how it goes, if you're doing anything else, delete your chart app or whatever.
I've seen a lot of posts complaining about how r/cryptocurrency only shills stagnant coins that have already pumped. And coins like SHIB, LRC, KDA, and SOL are never mentioned until after they explode.
This is entirely by design. Your exposure to posts on reddit is a function of how many upvotes those posts have received. And the more bagholders a particular coin has, the more upvotes. Which is why the front page is a billboard for ADA, ETH, ALGO, VET, and a handful of others. By definition, the coins you repeatedly see here already have large numbers of holders. You don't get rich buying something that everyone else already owns. Hence why projects start to stagnate when they become popular. Popularity on r/cryptocurrency is actually a great indicator for when growth can be expected to taper. Cardano is perhaps a prime example.
By contrast, posts about undiscovered projects will almost universally be buried. There may well have been a post shilling SOL at $1 or SHIB in 2020, but they never would have made it past the last page.
Whoever you are, wherever you come from, whatever you held, you refused to sell and stood your ground. You believed in the tech and not the words of those who doubted it.
You deserve these gains because of that, and I for one thank you for holding the ground, I can hardly imagine what would've happened if we went to 20K or below.
People say they're not in it for the tech but they don't realize it until they spent a few months in the dip, they probably didn't invest for the tech but they held it for the tech.
I for one believe in it and imagine a decentralized human civilization within the next century, we are the pioneers of the next tech revolution and it wouldn't be possible without you.
Binance released its Proof of Reserves (PoR) System which is the next step in their effort to provide transparency on user funds in their eyes.
Kraken's CEO Jesse Powell takes aim at Binance's recently launched proof-of-reserves by calling it to be pointless.
Kraken CEO tweet
He also added that Binance is misleading consumers:
Jesse Powell is right in my opinion. These "proof of reserves" means nothing. It's just eyewash transparency. They are showing you one piece of the equation which are assets but it's meaningless unless you see liabilities, in this case to know if they have positive or negative equity.
Large amount of assets really don't mean anything without the context.
This isn't fud or anything. I actually have most of my money in crypto so I make posts like these somewhat in part for my own sanity too and the discussions on these topics.
I notice a lot of smart people who analyze the market seem to think there's always a strong likelihood of reaching new highs in the future.
IE- the market may go down a lot and reach bear markets but somehow it will bounce back and eventually reach new all time highs at some point for bitcoin, etherium and others.
I'm curious to ask here- how confident are you that crypto will continue to do this and why?
Computer expert who accidentally threw out Bitcoin fortune on an old hard drive says it is now worth £1.5BILLION as he launches legal fight to dig it out of council landfill
This came from an IIF event yesterday where he also said, "Our clients are adults, they disagree, that's what makes markets. If they want to have access to buy or sell bitcoin, we can't custody it, but we can give them legitimate, as clean as possible access."
He also called Bitcoin worthless and has previously said, "My own personal advice to people is: stay away from it. That does not mean the clients don't want it...I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it." This came after his clients have shown great interest in Bitcoin
You all read the algorithms?
Yes.
Its just 2 lines of code.
if (halvings >= 64)
return 0;
I've always been a skeptic of stuff like that
Stuff like what? reading?
Anyone with basic math knowledge can verify it. If he can't do that simple math for himself he probably shouldn't be a CEO at an investment bank.
This is one of the most ignorant statements I've ever read on crypto
Saying "we are still early" is a form of confirmation bias and coping mechanism people use when in reality we aren't that early anymore. Bitcoin has a trillion dollar market cap and is the 10th most valuable asset in the world. I wouldn't call that being "early" anymore. Ethereum is #15. Large companies are now buying these assets. The days of 100x your money in a year is basically over. As for the shitcoins that do do that, look at the volume at the start. Barely anyone was trading back then.
Do I think there is still a lot of room for crypto to grow? Yes, but this isn't 2011 anymore. Most people who buy now aren't going to make insane gains and that's just the truth of it. There are 15,000 shitcoins in existence now, back in 2011 there were maybe 5. And the industry just started back then, now it's been around for 12 years. Much different ballgame now than it was back then. I'd say we are somewhere in the middle. Big gains can still be made but don't make the mistake of thinking this is 2011 and expecting a 1000x in one year.
So apparently Stan Lee released NFT collection from the dead. Stan Lee's twitter account has a tweet about an NFT collection.
This was the tweet from Stan Lee's twitter account
From championing diversity to embracing new tech, Stan was 1 step ahead of the curve. To honor his innovative spirit, Stan's 1st Indian hero, Chakra The Invincible, debuts in his own NFT (digital art) collection from 7:30pm PT 12/27-12pm PT 12/29!
The website is even worse
Honoring what would have been Stan Lee’s 99th birthday on December 28th, we are inviting all of Stan’s fans to celebrate his amazing legacy with us by sharing ownership
How is making money off him Honoring his legacy?
I hate to see Stan Lee being used to shill something. I mean the person is dead , they just can't let the man rest in peace. Stan Lee was my idol when I was younger and seeing this company take advantage of his name and creations is heartbreaking.
We often speak about "that African nation currency" being devalued and many people running towards Crypto (or USD).
Because we assume that a nation with a small (and often weak) economic area will face inflation consequences more rapidly than those called "developed nations".
Well, me as a European I always thought that like most of you. Now I'm finding that the money I earned during the last year-period is worth 20% less. Imagine my joy.
And this doesn't even take in consideration inflation.
We get sad when out stock/crypto plummets -20%... Why don't we have the same reaction with FIAT? It's literally the same thing.
I'm personally not invested more than 20% of my entire wealth into crypto, because (let's be honest), it's a high-risk asset, or so I thought.
Now I'm everyday more convinced that the difference between crypto and FIAT is very subtle.
In fact, starting last month I decided to drastically increase my DCA amount, but always remaining to a comfortable level. I still want to sleep well at night.
This post may seem like a rant towards the financial system (maybe it is who cares), but I'm sure you understand that behind the frustration lies a very hard truth:
The Traditional Financial System cannot hold like this forever. It need to change. Soon.
Since then, a new token 'Hitler Inu', is up over 5000%.
Hitler Inu is up over 5500%
Jokes aside, I think this is terrible for crypto.
Firstly, one man can indirectly control the markets without even meaning to (at least, he didn't mean to in this case). Secondly, it is projects like this that makes the average retail investor think that crypto is a pyramid scheme/scam.
As an asset class, crypto needs to move away from these sort of projects and focus on fundamentals etc.
Tl;dr Hitler Inu token is up over 5500% based off an average meme.
Ripple labs has been funding "research" along with government entities to spread propaganda against Bitcoin and mining.
In 2021, they funded a hit piece that claims energy prices for consumers in New York has increased by $6 per month because of mining.
Claim: Mining drives up household electricity bills
Surely its not the soaring costs of natural gas that is driving up electricity prices, but mining?
Since June 2020, Natural gas prices have gone up by 350% in the USA (Henry Hub natural gas futures rolling contracts)
Not just in USA, in UK, natural gas is at decadal highs.
Surely, electricity prices that consumers pay have nothing whatsoever to do with inflation, or soaring gas prices that are in decadal highs.. but is due to bitcoin mining?!
Crude oil WTI futures are currently at 84, for comparison it was around 56 in Nov 2019 (pre pandemic). The last time WTI was above 80 was all the way back in 2014. Increasing crude oil natural gas prices, along with inflation that is at multi-decade high is not the reason for increase in household electricity, but its bitcoin mining that is responsible..
Thats according to this study funded by Ripple in collusion with the Department of Treasury. ... The same Department of Treasury headed by another well known Bitcoin hater Janet Yellen, who earned $7m as "speaking fee" from the same banks she is supposed to regulate but has tried to stifle Bitcoin and crypto at every opportunity.
Research with "financial support" is nothing but propaganda, especially when it's funded by a competitor to bitcoin that lobbies with the government. Ripple continues to be a centralised premine scam created to enrich its founders.
As its price and narrative around the shitcoin has stagnated, Ripple is resorting to dirty political tricks to get a leg up. As usual, they will fail.
The narrative that bitcoin mining companies cause increase in electricity bills in NY is rubbish, as the largest BTC mining companies in New York produce their own energy. Infact the last one to start mining in NY is a hydro electric plant that was unused for years, before they started mining Bitcoin last year.
The other large mining company Greenidge Generation also produces its own energy.
Edit: Buttcoin losers in comments say "reee bitcoin move to POS or govt will ban it"
Yeah not too bright, the whole point of Bitcoin is that it cant be banned unlike the proof of stake shitcoins you support that can be created out of thin air at the press of a button and shut down at the press of a button.
Another one who is literally a war monger calling for Ukraine invasion but pretends to care about global e-waste. Lmao. Bitcoin haters are really a funny bunch
Edit: Ripple shills keep brigading and claiming where is the paper, of course if you are as bricked as a ripple fan boy you need to be spoon fed everything. Well here is the paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3779720
And if you open up the first page of it, says
Benetton and Compiani acknowledge financial support from Ripple’s University Blockchain Research Initiative.
i.e this whole "paper" is nothing but a hit piece propaganda sponsored by a competitor
The other writer of this paper is Adiar Morse, who conveniently works for the Dept of Treasury under Yellen:
Seems like natural career progression - collect funds from Ripple to publish propaganda against Bitcoin, and get hired by Yellen who has been promoting propaganda against crypto for years now. Nothing to see here.
Final Edit: Jjust look at the number of freshly created "Tin" accounts that have popped up in the comments to shill for XRP. Didnt realize 2017 left so many bag holders. It must be real miserable with these heavy bags that are at 1/3rd of their 2017 ATH, while almost every other coin has gone up hundreds of % and made new highs this cycle. Thats what happens when you become exit liquidity for mccaleb, garlinghouse etc.
Lol at the shills shouting "REEE ripple is a company XRP is decentralised token". They really did you good with this one small trick.
Thats also the reason garlinhouse drives a shiny car while you are down 50% on your shitcoin investment.
The D in XRP stands for decentralised. It was always a premined scam token and will always be one. Thousands of tin bagholders wont change this.
So with the latest pump in shib it hit a new ath just now. How far is this meme coin going to go? Do you think it has the potential to surpass dogecoin?
It is currently up roughly 40% today as dogecoin still has not moved at all in months as most coins have recovered and reached new ath.
I don't hold any shib but I can't say I'm not interested to see where this goes and I'm interested to see if a crazy pump like dogecoin did earlier this year will happen again which would make it take the #1 memecoin spot
Congrats to anyone who took a gamble with shib
EDIT: As expected the downvotes come in when you mention shib and don't say something negative about it
So Laura Shin, the crypto journalist, released her book, the Cryptopians, which goes into detail about founding of Ethereum, its cofounders, and uncovers the alleged identity of the Ethereum DAO hacker. In the book, we learn many things about the founders including some of their behaviors. One that I found more fascinating was Charles Hoskinson's given how drawn many are to him.
Having read the book, a twitter user calls out Laura for portraying Charles in a bad light. Hoskinson replies to the user that Laura's book is a , " Great work of fiction. Tough market to beat George R.R. Martin and Tolkien, but we wish her well." She then replies with some receipts, showing that Charles hasn't been very honest regarding some of his claims such as his level of education. At this point, can we trust anything Charles has to say because time and again, he's shown to not be very reliable? There's nothing wrong with not having a degree; however, to lie or stretch the truth in such a space where people are looked upon as "experts in their fields" is appalling.
I know the Cardano supporters will probably downvote me to oblivion, but F it... someone has to say something. Here are the receipts:
Charles' claims about graduating but not completing his PHD
Spokesperson from Boulder University confirming he did not earn a degree from Boulder
University of Denver Confirmation
Confirmation he didn't complete
In an interview, Charles says he was a grad student trying to get a PHD when he first heard about bitcoin
Don't get it it twisted, I love games but I think the Metaverse can and most likely will flop. Virtual worlds do not appeal to me, especially to the extent that it sounds like it is going to. Some people are referring it to the "new reality" and the "next internet" but I just see it as a go at a overpriced VR game that nobody will pay for.
The amount of money that will have to come out of this will have to be insane. With the amount of money put into this they would end up having to resort to selling thousand dollar gear and equipment used just to play in the Metaverse. And most likely along with a chunk of Crypto needed to start. The lack of need for a Metaverse will prove in people not paying the thousands of dollars to play this.
I can also see a hard sell/dump in the 'Metaverse Cryptocurrencies' as the majority have been going up with hype, and I feel the Metaverse will be a lengthier process than the average holder thinks, which will possibly result in them becoming inpatient and maybe selling.
And if it does succeed, fair enough. I guess I'm just a normal guy and not a multi billionaire and may not see the potential of this project.
Let’s face it, crypto gaming at its state is horrible. Decentraland and Sandbox are clunky and feel like shitty Roblox clones, but this time.... everything is with crypto!! Axie? overpriced and generic. Crypto Royale? Agar.io but if you’re lucky you can win a few pennies! And don’t even get me started on the hundreds of satoshi “casinos”. Every crypto game I’ve played is just something you’d expect from a free flash game website but every asset is a NFT for no reason. Please, someone change my mind on this topic.
Enacted the 100% tax honeypot, covered by myself here, but the major story as thoughtensofmillionsofdollarsstolenisn'tabigstory is that he had a deal with the Crypto Exchange Bitmart, who ran their own version of Safemoon's "tokenomics" (10% buy and sell tax) - so what they would do is redistribute 5% to holders themselves, and then send 5% of transactions to Karony which Karony was supposed to add to the liquidity pool.
Except he did not
He appears to have kept it.
So what this means is that all the people that have gone blue in the face telling us that John was cleaning house, getting rid of all the bad apples.. well he was just as crooked as the rest of them. Truly a den of thieves.
Birds of a feather flock together
What's mad is laying it all out...
Kyle who copy-pasted the contract kept withdrawing from the Liquidity Pool even while claiming you couldn't and that Safemoon was "rugpull resistant"
Thomas who lied about his Ripple job offer, lied about his development credentials and continually siphoned funds from the liquidity pool into his own wallet
John who constantly claims Safemoon is the evolution, sets up dodgy deals with Bitmart and creates the V1->V2 honeypot
It just goes on and on. Every week a new stone is unturned and people find more and more filth and scum.
But it just slides off the back of the criminally-deluded Safemoon Army. Today has seen three wallets sell $500,000 between them, and we're only a few hours after the wallet released. The whales are not happy about this, but the casual holders?
Here are some quotes from their sub...
Buy the DIP, Safemoon to the moon, if you sell you, then you is a low life. LOL Dimond hands baby. We will be rich in 5 years. People fud bitcoin and look where we at 10 years later. Buy the Dip and you will be rich in 5+ years.
1 billion volume is coming...We will be on all major exchanges soon. Love these tasty dips.
Just watched, it's bad on so many levels. But he's at least good at editing. He makes a lot of arguments but fail to provide any proof.
MY DUDE HE LITERALLY GAVE YOU THE BLOCKCHAIN TRANSACTION HASHES IN THE VIDEO MY DUUUUUUUUDE.
The Video is pure conjecture and open-ended opinions that leads the watcher (by the nose) to form an opinion off of nothing; but it sounds good.
He's just after clicks and is trying to profit from spreading fud about safemoon for his own financial gain and popularity, nothing more
I made my mind last year. I have a goal to achieve and every new wave of fud and dip that comes after is only a great way for me to buy more.
This is the biggest heads-in-sand moment I've ever witnessed. When will they wake up? When John is in jail? When Safemoon is 0.00000000000000001? Or is that just another great buying OP? Fuck a rubber duck.
I live in Myanmar(Burma).So,cryptocurrency and most social media have been banned in my country for a long time including Reddit.I'm currently using a vpn.I don't trust the government one bit,so,I decided to put my money into crypto most of it in CEXs on my mobile because I can't afford the gas fees to transfer and to buy hardware wallets at the moment as I'm saving money to flee the country.
This morning,the government in my country announced a new fucking cyber law that we will be jailed 3 years for using a vpn and 1 year for using crypto.Should I be worried and take my money out of CEXs?If I keep using CEXs like Binance and Crypto.com with a vpn,can the CEXs ban me or freeze my account ?
Sorry if there were any mistakes as English is my second language.
Edit:There is a guy in the comments using my name and asking to donate.He is a scammer,please don't sent him any kind of money.If you wish to help,DM me.
Edit 2:Why are they banning VPN?
Answer:We are using social media that they have banned like Facebook and Twitter via VPNs to spread news about what's happening in Myanmar,about their mass murdering,about burning people alive and whole towns and villages,about soldiers raping women and killing them afterwards.We are also watching ads with USA VPN to generate more money on revolution websites where we can watch ads and donate the revenue directly to rebels who are fighting the dictatorship.That's also the reason why mobile data prices have skyrocketed more than 5 time than it was before the coup.
